Services

CRS global summary

An evolving financially transparent world

The Common Reporting Standard (CRS) is the standard for Automatic Exchange of Financial Account Information (AEOI) developed by the Organization for Economic Co-operation and Development (OECD). It is a comprehensive reporting regime that draws extensively on the Intergovernmental Agreement (IGA) approach to implement FATCA.

Understanding Common Reporting Standard requirements

The Common Reporting Standard (CRS) is the new global standard for Automatic Exchange of Financial Account Information (AEOI) developed by the Organization for Economic Co-operation and Development (OECD). Based upon the Foreign Account Tax Compliance Act (FATCA), CRS is a legal basis for exchange of tax data among participating jurisdictions.

Deloitte’s CRS approach leverages our global tax reporting knowledge and experience and footprint to quickly and effectively identify impacted lines of business within the organization, consistently apply a global interpretive standard, and jointly develop tested implementation processes within applicable timelines.

Download the attached placemat and presentation deck to learn more.

CRS global summary

The OECD released the first edition of the Standard for Automatic Exchange of Financial Account Information in Tax Matters on July 21, 2014, containing the Common Reporting Standard (CRS). By October 2014, over 90 jurisdictions had signed or committed to sign the CRS.

Similar to FATCA, the CRS requires financial institutions resident in the participating jurisdictions to implement due diligence procedures to document and identify reportable accounts under CRS as well as to establish reporting processes on the reportable accounts identified.

Download the attachment to see where various countries are aligned.

Meet the leaders

Andrea Garcia Castelao

Andrea Garcia Castelao

Senior Manager | Financial Services | Deloitte Tax

Andrea is a senior manager at Deloitte Tax LLP with more than 10 years of experience who has been providing global information reporting and withholding related services to global financial institutio... More

Denise Hintzke

Denise Hintzke

Managing Director | GIR, FATCA & CRS Tax Leader

Denise is a managing director in the Financial Services Tax practice at Deloitte Tax LLP where she serves as a leader in their Global Information Reporting practice as well as their Foreign Account Ta... More

Chris Tragheim

Chris Tragheim

Tax Partner | Financial Services

Chris is a partner in the Financial Services Tax Group in London. He specializes in information reporting and withholding and is the global lead partner in respect of the US Qualified Intermediary (QI... More

Owen Gibbs

Owen Gibbs

Tax Director | Global Information Exchange

Owen is a director within the Global Information Exchange team and specialises in advisory services in relation to FATCA, CRS and UK CDOT. He currently leads the UK arm of our outsourced reporting ser... More